InterGlobe (IndiGo) Aviation Q1 Results FY2023, Net loss at Rs. 10,643 million

On 3rd August 2022, InterGlobe Aviation (IndiGo) announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- Revenue from Operations increased by 327.5% to Rs. 128,553 million

- EBITDAR stood at Rs. 7,169 million with an EBITDAR margin of 5.6%, compared to a negative EBITDAR of Rs. 13,602 million with a negative EBITDAR margin of 45.2%

- Profit before foreign exchange loss of Rs. 3,603 million, compared to a loss of Rs. 28,069 million 

- The company reported a Net loss of Rs. 10,643 million, compared to a net loss of Rs. 31,742 million a year ago.

- Total income for the quarter stood at Rs. 130,188 million, with an increase of 310.7% over the same period last year. 

- For the quarter, passenger ticket revenues were at Rs. 114,669 million, an increase of 399.1%, and ancillary revenues were Rs. 12,863 million, an increase of 92.5% compared to the same period last year.

Business Highlights:

- The Airlines’ Passenger numbers increased by 221.9% 

- As of 30th June 2022, a fleet of 281 aircraft including 35 A320 CEOs, 146 A320 NEOs, 65 A321 NEOs and 35 ATRs; a net increase of 6 aircraft during the quarter. 

- IndiGo operated at a peak of 1,667 daily flights during the quarter including non-scheduled flights 

- During the quarter, providing scheduled services to 73 domestic destinations and 20 international destinations

- IndiGo had an on-time performance of 85.5% at four key metros and a flight cancellation rate of 0.61%

Commenting on the results, Company’s CEO, Mr. Ronojoy Dutta said, “Our revenue performance this quarter was impressive. We reported the highest ever revenue generated by the company and thereby produced profits at an operational level. However, cost pressures on fuel and foreign exchange prevented us from translating this strong revenue performance into net profitability. While our financial performance in the second quarter will be challenged by weak seasonality, the long-term revenue trend remains strong.”